2 weeks Ago By Defense World Staff
Wallace Capital Management Inc. acquired a new stake in AbbVie Inc. ( NYSE:ABBV – Free Report ) in the 2nd quarter, according to its most recent Form 13F filing with the SEC.
The institutional investor acquired 1,213 shares of the company’s stock, valued at approximately $208,000. Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Frisch Financial Group Inc.
boosted its position in shares of AbbVie by 0.8% during the 2nd quarter. Frisch Financial Group Inc.
now owns 6,920 shares of the company’s stock valued at $1,187,000 after acquiring an additional 53 shares during the last quarter. Capital Advisors Ltd. LLC increased its position in shares of AbbVie by 1.
3% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 4,453 shares of the company’s stock worth $764,000 after purchasing an additional 55 shares during the last quarter.
Hilltop Partners LLC lifted its holdings in shares of AbbVie by 1.4% in the 2nd quarter. Hilltop Partners LLC now owns 3,859 shares of the company’s stock worth $662,000 after acquiring an additional 55 shares during the last quarter.
Lokken Investment Group LLC boosted its position in shares of AbbVie by 3.6% during the 4th quarter. Lokken Investment Group LLC now owns 1,666 shares of the company’s stock worth $258,000 after purchasing an additional 58 shares during the period.
Finally, Longfellow Investment Management Co. LLC raised its position in AbbVie by 1.0% in the second quarter.
Longfellow Investment Management Co. LLC now owns 5,622 shares of the company’s stock valued at $964,000 after purchasing an additional 58 shares during the period. Hedge funds and other institutional investors own 70.
23% of the company’s stock. AbbVie Stock Up 1.5 % AbbVie stock opened at $194.
79 on Monday. The stock has a 50-day simple moving average of $191.54 and a 200-day simple moving average of $176.
22. The company has a market capitalization of $343.97 billion, a P/E ratio of 57.
80, a PEG ratio of 2.65 and a beta of 0.64.
The company has a debt-to-equity ratio of 8.51, a quick ratio of 0.71 and a current ratio of 0.
81. AbbVie Inc. has a fifty-two week low of $135.
85 and a fifty-two week high of $199.95. AbbVie Dividend Announcement The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th.
Shareholders of record on Tuesday, October 15th will be given a dividend of $1.55 per share. The ex-dividend date of this dividend is Tuesday, October 15th.
This represents a $6.20 dividend on an annualized basis and a yield of 3.18%.
AbbVie’s payout ratio is currently 183.98%. Insider Activity In other AbbVie news, Chairman Richard A.
Gonzalez sold 282,845 shares of the stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $175.00, for a total value of $49,497,875.
00. Following the completion of the transaction, the chairman now owns 513,099 shares in the company, valued at $89,792,325. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink .
In other news, Chairman Richard A. Gonzalez sold 282,845 shares of AbbVie stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $175.
00, for a total transaction of $49,497,875.00. Following the completion of the sale, the chairman now directly owns 513,099 shares in the company, valued at approximately $89,792,325.
The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink . Also, Chairman Richard A. Gonzalez sold 66,500 shares of the business’s stock in a transaction on Monday, August 5th.
The stock was sold at an average price of $186.52, for a total value of $12,403,580.00.
Following the sale, the chairman now owns 446,599 shares in the company, valued at $83,299,645.48. The disclosure for this sale can be found here .
Insiders own 0.25% of the company’s stock. Analyst Ratings Changes A number of analysts have issued reports on ABBV shares.
William Blair upgraded shares of AbbVie to a “strong-buy” rating in a research note on Friday, August 30th. Morgan Stanley upped their price objective on AbbVie from $211.00 to $218.
00 and gave the stock an “overweight” rating in a research report on Monday, August 12th. BMO Capital Markets lifted their price objective on AbbVie from $180.00 to $214.
00 and gave the company an “outperform” rating in a research note on Friday, July 19th. Wells Fargo & Company upped their target price on shares of AbbVie from $200.00 to $205.
00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $200.00 price objective on shares of AbbVie in a report on Monday, August 5th.
Two equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $191.64.
Read Our Latest Report on ABBV AbbVie Profile ( Free Report ) AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, an injection for autoimmune and intestinal Behçet's diseases, and pyoderma gangrenosum; Skyrizi to treat moderate to severe plaque psoriasis, psoriatic disease, and Crohn's disease; Rinvoq to treat rheumatoid and psoriatic arthritis, ankylosing spondylitis, atopic dermatitis, axial spondyloarthropathy, ulcerative colitis, and Crohn's disease; Imbruvica for the treatment of adult patients with blood cancers; Epkinly to treat lymphoma; Elahere to treat cancer; and Venclexta/Venclyxto to treat blood cancers. Featured Articles Five stocks we like better than AbbVie Consumer Discretionary Stocks Explained Watch These 3 Former Short-Squeeze Stocks for a Big Rally What is the FTSE 100 index? Simon Property REIT: A Safe Bet for Growth and Steady Dividends How Can Investors Benefit From After-Hours Trading CarMax’s Impressive Rally: What Investors Should Watch Next Receive News & Ratings for AbbVie Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AbbVie and related companies with MarketBeat.
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